Question 1

Information is best described as

Accepted Answer

A)  raw facts about transactions. 
B)  data that has been organized and processed so that it is meaningful to the user. 
C)  facts that are useful when processed in a timely manner. 
D)  the same thing as data. 
A)  raw facts about transactions. 
B)  data that has been organized and processed so that it is meaningful to the user. 
C)  facts that are useful when processed in a timely manner. 
D)  the same thing as data.

Question 2

Information that does not omit important aspects of the underlying events or activities that it measures is

Accepted Answer

A)  complete. 
B)  accessible. 
C)  relevant. 
D)  timely. 
A)  complete. 
B)  accessible. 
C)  relevant. 
D)  timely.

Question 3

Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?

Accepted Answer

A)  name of the employee who completed the sale 
B)  daily sales quota 
C)  product sold 
D)  date 
A)  name of the employee who completed the sale 
B)  daily sales quota 
C)  product sold 
D)  date

Question 4

An accounting information system (AIS)processes ________ to provide users with ________.

Accepted Answer

A)  data; information 
B)  data; transactions 
C)  information; data 
D)  data; benefits 
A)  data; information 
B)  data; transactions 
C)  information; data 
D)  data; benefits

Question 5

How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?

Accepted Answer

A well-designed AIS improves the efficie

Question 6

Information is ________ when two knowledgeable people independently produce the same information.

Accepted Answer

A)  verifiable 
B)  relevant 
C)  reliable 
D)  complete 
A)  verifiable 
B)  relevant 
C)  reliable 
D)  complete

Question 7

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

Accepted Answer

The concept of "Give and Take" transacti

Question 8

A frantic Barney Rubble lost a large sale because he could not access the system to verify the inventory was in stock and ready to be shipped.Which of the following characteristics of useful information is absent in the situation described above?
A) relevant
B) reliable
C) complete
D) timely
E) understandable
F) verifiable
G) accessible

Accepted Answer

The answer of A frantic Barney Rubble lost a large...

Question 9

Which of the following statements below shows the contrast between data and information?

Accepted Answer

A)  Data is the output of an AIS. 
B)  Information is the primary output of an AIS. 
C)  Data is more useful in decision making than information. 
D)  Data and information are the same. 
A)  Data is the output of an AIS. 
B)  Information is the primary output of an AIS. 
C)  Data is more useful in decision making than information. 
D)  Data and information are the same.

Question 10

The process of creating value for customers is the result of nine activities that form a

Accepted Answer

A)  value chain. 
B)  capitalist operation. 
C)  profitable business. 
D)  information system. 
A)  value chain. 
B)  capitalist operation. 
C)  profitable business. 
D)  information system.

Question 11

Who of the following would not be involved in the revenue cycle?

Accepted Answer

A)  accounts payable clerk 
B)  customer 
C)  cashier 
D)  credit manager 
A)  accounts payable clerk 
B)  customer 
C)  cashier 
D)  credit manager

Question 12

Message left on voicemail: "Hi Nikki! Just landed at the airport.How about dinner this evening if you're available.Call me!" Which of the following characteristics of useful information is absent in the situation described above?

Accepted Answer

A)  relevant 
B)  reliable 
C)  complete 
D)  timely 
E)  understandable
F) verifiable
G) accessible 
A)  relevant 
B)  reliable 
C)  complete 
D)  timely 
E)  understandable
F) verifiable
G) accessible

Question 13

Baggins Incorporated identifies new product development and product improvement as the top corporate goals.An employee developed an innovation that will correct a shortcoming in one of the company's products.Although Baggins current Return on Investment (ROI)is 15%,the product innovation is expected to generate ROI of only 12%.As a result,the employee fails to follow up.As a result,awarding bonuses to employees based on ROI resulted in

Accepted Answer

A)  goal conflict. 
B)  information overload. 
C)  goal congruence. 
D)  decreased value of information. 
A)  goal conflict. 
B)  information overload. 
C)  goal congruence. 
D)  decreased value of information.

Question 14

Paying state payroll taxes is part of which transaction cycle?

Accepted Answer

A)  human resources/payroll 
B)  expenditure 
C)  financing 
D)  revenue 
A)  human resources/payroll 
B)  expenditure 
C)  financing 
D)  revenue

Question 15

Clemente Santiago has formed a business that sells carved gourmet coconuts.He has hired five employees.The most senior is Friday,who manages the carving process.Monday is the newest employee.She collects the coconuts.Tuesday takes calls from unhappy customers.Wednesday tosses finished coconuts into the sea,sending them to the wholesaler.Thursday sends smoke signals to the wholesaler extolling the virtues of the latest production run of nuts that are drifting across the bay.Which of the following functions in the value chain is Wednesday performing?

Accepted Answer

A)  Inbound logistics 
B)  Operations 
C)  Outbound logistics 
D)  Marketing and sales 
E)  Service 
A)  Inbound logistics 
B)  Operations 
C)  Outbound logistics 
D)  Marketing and sales 
E)  Service

Question 16

Chopra,Limited,is an Indian company operating in New York state.It offers stylized,boutique public relations services to upscale retailers in quaint New England towns.A major source of revenue is a weekly newsletter that reports on current and projected tourist travel and spending patterns.Preparation of the newsletter requires study and analysis of weather conditions,economic activity,and travel costs.It is available at an annual subscription rate of $299.99.There are currently 190 subscribers.Preparation and distribution of the newsletter costs $12,000 annually.The value of information to subscribers is

Accepted Answer

A)  $236.83. 
B)  $44,998.10. 
C)  less than $63.16. 
D)  at least $300.00. 
A)  $236.83. 
B)  $44,998.10. 
C)  less than $63.16. 
D)  at least $300.00.

Question 17

Which of the following tradeoffs between characteristics of useful information is least objectionable?

Accepted Answer

A)  incomplete information received on a timely basis 
B)  irrelevant information received in an understandable format 
C)  unreliable information easily accessible 
D)  verifiable information received in unreadable format 
A)  incomplete information received on a timely basis 
B)  irrelevant information received in an understandable format 
C)  unreliable information easily accessible 
D)  verifiable information received in unreadable format

Question 18

When properly deployed,accounting information systems can provide firms with a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 19

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

Accepted Answer

A)  hire and train employees 
B)  acquire inventory 
C)  sell merchandise 
D)  collect payment from customers 
A)  hire and train employees 
B)  acquire inventory 
C)  sell merchandise 
D)  collect payment from customers

Question 20

Before a firm can identify the information needed to effectively manage a process,the firm must

Accepted Answer

A)  understand the process . 
B)  hire programmers. 
C)  purchase computers and/or workstations. 
D)  obtain internet access. 
A)  understand the process . 
B)  hire programmers. 
C)  purchase computers and/or workstations. 
D)  obtain internet access.

Information is best described as

Information that does not omit important aspects of the underlying events or activities that it measures is

Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?

An accounting information system (AIS)processes to provide users with .

How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?

Information is ________ when two knowledgeable people independently produce the same information.

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

Which of the following statements below shows the contrast between data and information?

The process of creating value for customers is the result of nine activities that form a

Who of the following would not be involved in the revenue cycle?

Message left on voicemail: "Hi Nikki! Just landed at the airport.How about dinner this evening if you're available.Call me!" Which of the following characteristics of useful information is absent in the situation described above?

Paying state payroll taxes is part of which transaction cycle?

Which of the following tradeoffs between characteristics of useful information is least objectionable?

When properly deployed,accounting information systems can provide firms with a competitive advantage.

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

Before a firm can identify the information needed to effectively manage a process,the firm must

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters

Exam 1: Accounting Information Systems: an Overview

Information is best described as

Information that does not omit important aspects of the underlying events or activities that it measures is

Which of the following is not one of the three basic types of data about a specific sales transaction that should be captured by an Accounting Information System?

An accounting information system (AIS)processes ________ to provide users with ________.

How can the value of the information produced by an accounting information system be determined? What would a measurement and verification expert think about quantification and verification of such information?

Information is ________ when two knowledgeable people independently produce the same information.

How are "Give and Take" transactions classified in business today and what impact does this have on AIS?

Which of the following statements below shows the contrast between data and information?

The process of creating value for customers is the result of nine activities that form a

Who of the following would not be involved in the revenue cycle?

Message left on voicemail: "Hi Nikki! Just landed at the airport.How about dinner this evening if you're available.Call me!" Which of the following characteristics of useful information is absent in the situation described above?

Paying state payroll taxes is part of which transaction cycle?

Which of the following tradeoffs between characteristics of useful information is least objectionable?

When properly deployed,accounting information systems can provide firms with a competitive advantage.

Paid time-off policies,job descriptions,and procedures manuals are examples of information needed to support key decisions in what business process?

Before a firm can identify the information needed to effectively manage a process,the firm must

Overview of Transaction Processing and Enterprise Resource Planning Systems

Systems Documentation Techniques

Relational Databases

Computer Fraud

Computer Fraud and Abuse Techniques

Control and Accounting Information Systems

Controls for Information Security

Confidentiality and Privacy Controls

Processing Integrity and Availability Controls

Auditing Computer-Based Information Systems

The Revenue Cycle: Sales to Cash Collections

The Expenditure Cycle: Purchasing to Cash Disbursements

The Production Cycle

The Human Resources Management and Payroll Cycle

General Ledger and Reporting System

Database Design Using the Rea Data Model

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, implementation, and Operation

Filters

An accounting information system (AIS)processes to provide users with .